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Alibaba’s Jack Ma Mentioned ‘Blockchain’ Again in WEF 2018

Jack Ma (Ma Yun), the founder of Chinese e-commerce giant Alibaba Group, predicted the future will be all ‘made on the internet’ instead of ‘made in China’ or ‘made in America’ and he also mentioned ‘blockchain’ in a session on ‘Enabling e-commerce: small enterprises, global players’ in the World Economic Forum (WEF) yesterday.

Ma said: “15 years ago, even there was no perfect logistics system, payments system or blockchain, e-commerce has grown remarkably nowadays. Last year’s e-commerce sales figures went beyond 750 billion US dollars.” the new digital policies should break down barriers for international e-commerce and support the next-generation enterprises to rise, as e-commerce could give small businesses access to global markets thus benefits developing countries, small enterprises and yang people. Ma also emphasized that, “All the things that younger generation wants to do, is the future.”

It is worth pondering that e-commerce sales figures reached 750 billion US dollars ‘in the condition without any support from ‘blockchain technology’. It is clear to see that if making use of blockchain technology, the development of e-commerce in China will scales new heights.

When they discussed the regulation in e-commerce field, Jack Ma also mentioned that: Regulators always wondered “How could we supervise them?” in the past, and he hopes in the future, it can changes to think about “how to help?” as e-commerce and other related new technologies are beneficial to small businesses and young people. Support e-commerce and fintech is on the way to promote social acceptance.

In addition, Caixin, the famous Chinese financial media group who provided the early warning of the ICO ban in China last year, launched a 24-hour risk index ranking list of the global cryptocurrencies yesterday, as an investment reference. It is also a sign of cryptocurrency is marching right to the mainstream market.

Bitcoin and other cryptocurrencies are popular among young people. In blockchain industry, most of the developer and tech experts are also quiet young. As Jack Ma said, ‘younger generation controls the future’, this is the trend and no one can stop it.